3 ms·
If there was no money involved it sounds like Google actually didn't have prediction markets. This is like saying that because nobody will take care of my lawn
by ALittleLight 5y ago
If there was no money involved it sounds like Google actually didn't have prediction markets. This is like saying that because nobody will take care of my lawn in exchange for Monopoly money lawn care businesses can't exist. It might be different if people got paid!
- ddp26 5y agoAgree, tangible incentives are important. But non-monetary prediction markets still have other benefits over traditional forecasting: (1) Traders only make predictions in markets where they think they will gain; (2) Traders control their risk, so one very confident person can make a larger bet than 10 people who are not very confident; (3) Markets are continuously updated as new information arises; (4) Profitable traders trade more, while losing traders exit the market